Add Listing
    For Lease
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    351-363 Massachusetts Ave Lexington, MA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime office space in Lexington with recent upgrades and excellent location.

    Type:OFFICE
    Property size:
    1,281 SF
    Lot size:
    0.45 Acres
    Added:
    Oct 9, 2024
    Days on Market:
    574
    Last Refresh:
    Apr 5 at 11:15 pm

    Property Features for 351-363 Massachusetts Ave

    General Information

    Standard status
    Active
    Size
    1,281 SF
    Lot size
    0.45 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 351-363 Massachusetts Ave Contact us

    We can help!

    Listing Contact
    Susan Ellis

    Listing agent Susan Ellis

    Listing office Godino & Company, Inc.

    Listing date Oct 9, 2024

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Godino & Company, Inc.

    Overview

    Lexington Office Space Available

    Prime office space is available in Lexington, Massachusetts. The building has recently undergone several upgrades and is professionally managed. The location is approximately two miles from downtown Lexington, which offers many retailers and a wide range of American and international restaurants. Neighboring retailers include Trader Joe’s, a Toyota dealership, Petco Unleashed, Dunkin Donuts, Walgreens, The UPS Store, Citizen’s Bank, Starbucks, and Peet’s Coffee. The building is transit-oriented, situated on Lexington’s historic Massachusetts Avenue, with easy access to Routes 2, I-95 / 128, and 93. The Minuteman Bikeway, which runs from Watertown to Cambridge, provides access for bicyclists and pedestrians to public transportation, such as the Alewife “T” Station in Cambridge, and the nearby Arlington Line (bus line 77). The property contains 1281 square feet. Current tenants include Lex Spa, Teles Aesthetics, Boemy Aesthetics, Sol-Solecito Spanish Immersion Pre-School, Verge Therapy, and Albanese D & S, Inc.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.1995
    Latitude
    42.4278

    Nearby Similar for Lease

    • Contact for pricing

      Versatile Office Space For Rent

      Second-floor office suite with flexible workspace in a desirable location.
      271 Lincoln Street #12, Lexington, MA 02421
      View Details
    • $1,500/Mo

      Renovated Storefront on Massachusetts Avenue

      Cozy, renovated storefront in East Lexington, ideal for small businesses.
      4 Bow Street, Lexington, MA 02420
      View Details
    • $35 SF/Yr

      Prime Retail/Office Space Available

      Retail/office space in Lexington Center with high visibility and foot traffic.
      1844 Massachusetts Ave, Lexington, MA 02420
      View Details
    • Contact for pricing

      Lexington Office Space Available

      Office space available on the second and third floors.
      110 Hartwell Avenue, Lexington, MA 02421
      View Details
    • Contact for pricing

      Professional Office Condo For Lease

      Move-in ready office condo near Lexington Center and major highways.
      394 Lowell St #19, Lexington, MA 02422
      View Details
    • $2,150/Mo

      Prime Retail Space on Bedford

      Highly visible retail space near Minuteman Bikeway and Stop & Shop.
      235 Bedford #1, Lexington, MA 02420
      View Details
    • Contact for pricing

      Restored Victorian Office Space

      Character-rich workspace in historic Lexington Center. Suites available for rent.
      52A Waltham Street, Lexington, MA 02421
      View Details
    • Contact for pricing

      Lexington Center Office Space

      Charming standalone commercial building in Lexington Center available for lease.
      52B Waltham St, Lexington, MA 02421
      View Details
    • Contact for pricing

      First Floor Office Space Available

      Office space with reception area, close to Lexington Center.
      114 Waltham St #14A, Lexington, MA 02421
      View Details
    • $1,500/Mo

      Renovated Storefront in East Lexington

      Cozy, renovated storefront suitable for various small businesses.
      4 Bow Street, Lexington, MA 02420
      View Details
    • $2,750/Mo

      Lexington Office Space For Rent

      Versatile 1,020 sqft office space near Route 128.
      271 Lincoln Street #12, Lexington, MA 02421
      View Details
    • $995/Mo

      Professional Office Space in Lexington

      Modern office space available immediately in Lexington, Massachusetts.
      9 Meriam St #24, Lexington, MA 02420
      View Details

    FAQs

    What type of property is this?
    Office units - Prime office space in Lexington with recent upgrades and excellent location.
    Where is this office units located?
    The property is located at 351-363 Massachusetts Ave Lexington, MA.
    What are key features of this property?
    This property features: Prime office space in Lexington.; Excellent location: 2 miles from downtown Lexington with numerous retailers and restaurants nearby.; Transit‑oriented location on Massachusetts Avenue with easy access to major routes (2, I‑95/128, 93).
    (617) 965-4200 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Susan Ellis
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    351-363 Massachusetts Ave, Lexington, MA
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!